Okay, let's look at another potential trade setting up right now.....Michael Kors (KORS).....it has a nice cup and handle formation and yesterday formed a nice support candle on heavy volume - looks to have found a bottom in the handle. A breakout on heavy buying volume above $60....i look for 15-25% gains from cups with handles, assuming the overall market is also cooperating....
LIMIT check out the chart for LPHI moving after long consolidation
Last edited by Limit5Bass; 02-07-2013 at 06:17 PM.
Bass, You need to take a bow, you are the man. I just looked at KORS and saw it broke out today on earnings, but you predicted it from the charts a week ago. Where do you see it topping? Too late to get in? Too bad I was only watching and not buying. GLW is moving higher but not on high volume, are you still a buyer on a low volume breakout?
I am looking to get in under $61 on KORS
short-term, i would be seller in the near future (prob this week) for GLW, but I do not own shares of GLW. My funds were tied up but I didn't want some others to miss out on a relatively safe 10% gain
EDIT: unless the volume buying picks up in GLW...then possibly the upper end of my target zone could be acheivable
Today is the day to get in on KORS, under $62. It isn't going below $61 as I hoped. See my note on the chart.
DECK update - look at this breakout....after a quick pullback yesterday and this morning, I think it's ready to start again towards my short term target of $50
And last but not least, for now, is a GLW updatte - again, see my notes on the chart - enjoy!!